Saudi Arabia, one of the Middle East's biggest car markets, may suffer its first drop in car imports in 10 years as a crisis hits the oil-based economy, according to analysts and traders.
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With the German government expected to make its decision on who it favours to buy a majority share in General Motors' Opel unit tonight (Wed), Fiat's bid was boosted as Italy's second largest lender, Intesa Sanpaolo, said it was ready to provide Fiat with financial support.
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In today's News Brake: Formula One teams have shut the door on Williams; GM to join Chrysler in bankruptcy court, Paul Tracy has plans beyond the 500... But Wait, There's More!
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In today's News Brake: Formula One teams have shut the door on Williams; GM to join Chrysler in bankruptcy court, Paul Tracy has plans beyond the 500... But Wait, There's More!
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Opel's supervisory board was holding an extraordinary meeting on Wednesday morning to decide on the carmaker's legal separation from its parent General Motors, a person familiar with the matter has said. It has also emerged that a Chinese automaker has submitted a last-minute bid.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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Germany scrambled today to put a plan in place to protect Opel from a looming bankruptcy filing by its U.S. parent General Motors.
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General Motors set the course today for its European operations to break away as a separate company, transferring all European factories and patents debt-free to a German subsidiary.
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U.S. car giant General Motors paved the way Wednesday for its European operations to break away as a separate company, transferring all its European factories and patents debt-free to a German subsidiary.
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Belgium's prime minister and the premier of the Flanders region have written letters to Germany and the European Commission insisting that the future of Opel be settled at a European level.
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Opel's supervisory board was holding an extraordinary meeting on Wednesday morning to decide on the carmaker's legal separation from its parent General Motors, a person familiar with the matter said.
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The U.S. government wants to be as inactive a shareholder in General Motors as possible if it ends up taking an ownership stake during a reorganization of the automaker, sources said on Tuesday.
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Mark McNabb, who has resigned from General Motors after 13 months, will lead Maserati North America Inc., Maserati announced today. McNabb, 48, will replace Marti Eulberg, who left the importer last month as CEO.
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General Motors said today that a crucial bond-exchange proposal failed to gain enough support and that its board of directors would meet to review the automaker's options, clearing the path for what would be the largest U.S.
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General Motors agreed to spare two plants that had been targeted for closure and will resurrect them to make small cars and their metal parts, according to highlights of a tentative contract agreement with the UAW.
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German ball bearing maker Schaeffler has struck a deal with labor to avoid forced layoffs for one year and let workers take a stake in the company in exchange for pay cuts, a top IG Metall union leader said.
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UAW officials unanimously endorsed a new cost-cutting labor agreement with General Motors on Tuesday, paving the way for a quick rank-and-file vote this week. Here are highlights of the new GM contract agreement:
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